Commercial Bank reports nine months' net profit before Pillar Two Tax of QR1,955.4m

Doha, Qatar: The Commercial Bank (P.S.Q.C.) (the Bank ) and its subsidiaries (the Group ) announced today its financial results for the nine months...

Doha, Qatar: The Commercial Bank (P.S.Q.C.) (the “Bank”) and its subsidiaries (the “Group”) announced today its financial results for the nine months ended 30 September 2025.

The Group reported a Net Profit before Pillar Two Tax of QAR 1,955.4 million for the nine months ended 30 September 2025 as compared to QAR 2,341.2 million for nine months ended 30 September 2024.

Our results were impacted by a decrease in net interest income and an increase in loan impairment charges, offset by higher fee income. On a normalized basis excluding the LTIS related changes, the adjusted Net Profit before Pillar Two Tax for the nine months ended 30 September 2025 is QAR 2,000.0 million.

In relation to our core businesses, our retail and wealth business continues to deliver good and consistent returns. On the wholesale banking side, our strong innovation and customer centric culture continues as well as our penetration in cash management. Our associates continued to perform well as we continue to work closely with them in the execution of their strategies.

Due to the potential implementation of the Global Minimum Top-up Tax of 15% (Base Erosion and Profit Shifting - BEPS Pillar Two Tax), a tax charge of QAR 169.9 million has been recorded. The Group may benefit from certain available reliefs on the finalisation of the draft executive regulations in the fourth quarter of 2025.